6wresearch logo

India Elevator and Escalator Market (2017-2023)-6wresearch

January 31, 2017

India Elevator & Escalator Market is projected to grow at a CAGR of 8.1% during 2017-23 - 6Wresearch

Elevator & Escalator market in India has registered growth in last few years on the back increase in number of high rise buildings, expansion and construction of airports and metros, construction of malls and hotels across the country especially in tier 1 & 2 cities, and increasing acceptance in residential sector.

According to 6Wresearch, India Elevator & Escalator Market is projected to grow at a CAGR of 8.1% during 2017-23. In the year 2016, the market declined and a similar trend is expected in 2017 due to decline in construction industry and demonetization of the Indian currency. Demonetization is likely to impact the spending, which would further affect the purchasing decisions of the end users; however, market is expected to recover in 2018.

Major market of elevator & escalator is driven by new installations, but maintenance segment is also recording growth due to increasing number of installed base across the country. Western region dominates the market followed by Southern region. In the coming years, eastern region is expected to witness key growth as a result of new development projects.

According to Shefali Goel, Research Analyst, Research and Consulting, 6Wresearch, "government investments for the development of new airports and metros in different cities has given the major boost to the market demand for elevators and escalators."

"Further, government of India projects such as Smart City and AMRUT would create additional market for elevators and escalators across the country," Shefali further added.

According to Aditi Sharma, Research Associate, Research and Consulting, 6Wresearch, "the usage of destination dispatch technology is anticipated to improve the efficiency of the elevators. The usage of this technology becomes more critical in high rise buildings. In the forecast period, the adoption of this technology would surge owing to increase in number of high rise buildings in the country."

"Along with the dispatch technology, the market is exhibited to witness demand for high speed elevators to improve the overall performance and efficiency of elevators," Aditi concluded.

Key players in India's elevator & escalator market includes- Kone, Schindler, ThyssenKrupp, Otis, Mitsubishi, Toshiba, Hitachi, Fujitec, Kinetic Hyundai, and Johnson Lifts.

"India Elevator & Escalator Market (2017-2023)" provides in-depth analysis of India Elevator & Escalator Market covered in more than 110 pages. The report estimates and forecast overall India elevator & escalator market by revenue, volume, segments such as new installation, maintenance and modernization, regions and applications such as residential, commercial and industrial sectors. The report also gives the insights on market share by companies, companies benchmarking, company profiles, market drivers and restraints.

Media Source: Open PR

      Browse More Report

GCC Video Surveillance Storage Market (2017-2023)

Market Forecast by Product Device (SAN, DAS and NAS), Deployment (Cloud, Hybrid and On-Premise), Verticals (Government & Transportation, Retails, Enterprise & Data Centers, Residential, Healthcare & Hospitality, BFSI and Others), Countries...

Read More

Latin America Elevator and Escalator Market (2017-2023)

Market Forecast By Segments (Elevators (Low-Rise, Mid-Rise & High-Rise) and Escalator (Moving Stairs & Moving Walkways)), Services (New installation, Maintenance & Modernization) and Countries Covered...

Read More

India Video Surveillance Storage Market (2017-2023)

Market Forecast By Technology (Network Attached Storage, Storage Area Network & Direct Attached Storage), Deployment (On-Premise & On-Cloud (Private, Public and Hybrid)), Verticals (Banking & Financial, Government and Transportation, Retail, Commercial Offices...

Read More

Africa Concrete Batching Plant Market (2017-2023)

Market Forecast By Capacity (Low Capacity (<60 CuM/Hr) Medium Capacity (60 CuM/Hr to 160 CuM/Hr) & High Capacity (>160 CuM/Hr)), By Verticals (Infrastructure, Buildings and Others), By Countries (South Africa, Kenya, Nigeria, Egypt, Algeria & Ethiopia) and Competitive Landscape

Read More

India Video Surveillance Analytics Software Market (2017-2023)

Market Forecast By Applications (Macro Applications (Traffic Surveillance, Building Surveillance, City Surveillance and Business Intelligence) and Micro Applications (Perimeter Intrusion Detection, Pattern Recognition, Counting & Crowd Management, Automatic License Plate Recognition (ALPR), Incident Detection, Face Recognition and Others))...

Read More

India Unified Communications and Collaboration Market (2017–2023)

Market Forecast By Solution Types (Voice, Video, Message and Others), Verticals (BSFI, Logistics & Transportation, Government and Public Utilities, Retail, Hospitality & Healthcare, Commercial Offices & IT/ITeS and Education)...

Read More

India Diesel Genset Market (2018-2023)

Market Forecast by KVA Ratings (5KVA-75KVA, 75.1KVA-375KVA, 375.1KVA-750KVA, 750.1KVA-1,000KVA, 1,000.1KVA-2,000KVA and Above 2,000KVA), Verticals (Commercial (Retail, Commercial Offices, Telecom, Hospitals, Hotels, BFSI, Transportation and Others), Industrial (Manufacturing, Energy and Others) and Residential)...

Read More

Saudi Arabia Electric Drives Market (2017-2023)

Market Forecast by Types (AC Drives and DC Drives), Voltage (Low Voltage Drives (< 1 KV) and Medium Voltage Drives (1 KV & Above)), Power (Low Power Drives (< 40 kW), Medium Power Drives (41 – 200 kW) and High Power Drives (> 200 kW))...

Read More

UAE Fire Safety Systems and Equipment Market (2017-2023)

Market Forecast by Types (Fire Fighting Systems and Equipment (Fire Extinguishers (CO2, Dry Chemical, Clean Agent, Foam Fire, Wet Chemical and Water), Fire Detection and Alarm Systems and Equipment (Smoke Detectors, Heat Detectors, Gas Detectors, Flame Detectors...

Read More


Our Key Clients
6wreserach client list